Inditex continues to grow in double digits. The Galician group has managed to increase its profit by 32.5% compared to the same period last year. During the first nine months of its fiscal year, the company's profit amounted to 4.102 billion euros, as the company announced today.
The group's sales increased to more than 25.6 billion euros, up 11.1%, and grew both offline and online. In the third quarter, sales were 8.758 billion euros, 6.7% more than a year ago, and it is now in a run of ten consecutive quarters with double-digit growth.
The same group has indicated in its press release that the autumn/winter collections have been very well received by customers. "Shop and online sales at constant exchange rates between 1 November and 11 December 2023 were up 14% compared to the same period in 2022," the company said in its press release.
Inditex expects a gross margin around 75 basis points higher than in 2022. During these nine months of the 2023/2024 fiscal year, the group has opened stores in 36 markets and has more than 5,700 shops.
The group has shown its ambition to continue growing while prioritising improving its fashion proposition, optimising the customer experience as well as being more mindful of how they can be more sustainable, therefore, they have stated that they are currently developing a series of initiatives in all key areas in the coming years.